The Koch Brothers Lay It Down: We’re Face-To-Face With Economic Doom

The current target of the Left’s “Two Minutes’ (of) Hate” are the Koch Brothers. It seems like there is a never ending stream of liberals demonizing them for…well, there’s never really a good excuse for it. That’s because the terrible crime that the Left hates them so much for is being rich guys who give big money to conservative causes as opposed to the much more typical rich guys who give big money to liberal causes. That’s really all there is to it.

However, that’s not all there is to the Koch Brothers. Charles Koch wrote an outstanding piece for the Wall Street Journal that explained why they’re speaking out. The numbers in it will stun you.

Years of tremendous overspending by federal, state and local governments have brought us face-to-face with an economic crisis. Federal spending will total at least $3.8 trillion this year–double what it was 10 years ago. And unlike in 2001, when there was a small federal surplus, this year’s projected budget deficit is more than $1.6 trillion.

Several trillions more in debt have been accumulated by state and local governments. States are looking at a combined total of more than $130 billion in budget shortfalls this year. Next year, they will be in even worse shape as most so-called stimulus payments end.

….Yes, some House leaders have suggested cutting spending to 2008 levels. But getting back to a balanced budget would mean a return to at least 2003 spending levels–and would still leave us with the problem of paying off our enormous debts.

Federal data indicate how urgently we need reform: The unfunded liabilities of Social Security, Medicare and Medicaid already exceed $106 trillion. That’s well over $300,000 for every man, woman and child in America (and exceeds the combined value of every U.S. bank account, stock certificate, building and piece of personal or public property).

Our country is on the brink of a devastating economic disaster that may ultimately do more long term economic damage to this country than the Civil War or WWII. Because the Koch Brothers are actually trying to do something about it, they’re being demonized non-stop. Sadly, that’s the price you have to pay in these days and times for trying to do what’s right for your country.